Engel & Volkers Americas
Is This Your Business?1.0
Engel & Völkers is a premium real estate company, operating in more than 34 countries. Originally started in Germany in 1977, the corporation is structured as a franchise, which means that each location is independently owned and operated. The company also offers some aircraft and yacht sales as well.
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The Good
- Multiple Locations
- Offers Franchising
- Training and Service Standards
Multiple Locations
The company has over 900 offices in more than 34 countries. This provides customers with a range of real estate options internationally, but also with relatively available access to agents who can help with transactions and searching.
Offers Franchising
Engel & Völkers is a company that allows individuals to own and operate locations, this allows for more locations in many areas around the world. This also allows real estate agents who know and understand the culture, market and legal needs of that specific area to run their own location supported by the Engel & Völkers brand.
Training and Service Standards
Engel & Völkers offers specialized in-house training for all agents who want to operate under its company name. The company has very high service standards and instills them in every employee. This standardization is helpful for ensuring a level of quality across its many locations, and customers can have confidence in the company’s efforts to provide such training to the team.
The Bad
- Luxury Brand
- Agent Issues
Luxury Brand
Engel & Völkers is a high end real estate company, so the company focuses primarily on properties that are considered luxury. This would not be the best option for an individual looking to buy or sell a home that does not fall under the luxury, high end or premium category. Other companies like ReMax or Coldwell Banker may offer more residential options for the mass market.
Agent Issues
Some customers in a range of countries have complained about agents giving misinformation, not keeping verbal agreements, or not representing them well. This may be limited to the experiences of a few customers or bad representatives, but it may be a deeper issue for the company to dive into and consider retraining or instituting new HR policies. Especially with brands like Barnes International Realty having a reputation for exceptional customer service and complimentary services, this is an area where Engels & Volkers could find more business by making adjustments.
The Bottom Line
For high end customers with money to spend and an eye for premiere real estate, Engels & Volkers offers several unique benefits — a range of locations globally, standardized training for employees that suggests quality service no matter where, and unique add-ons like yacht and airplane sales. But for many clients, the price point will be prohibitive, and other mass market options like Coldwell Banker or ReMax, may be a more practical fit.
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Hoora Maghazeh-Moghim
3 weeks ago
